So the tech in "Tech company" doesn't stand for technology but for "scalable"?
Tech seems to be branding for modernism, software, and rapid low-cost expansion. Lots of businesses are scalable in some sense. There are a lot of MacDonalds out there. I would say the primary difference is adding a new customer costs virtually nothing. This seems to be a relatively unique property of software companies.
Plenty of companies use extremely impressive tech to manipulate atoms, but, by convention, we call the ones that manipulate bits “tech companies.”